Greek Socialist PASOK party leader Evangelos Venizelos arrives at a press room after a meeting with Democratic Left leader Fotis Kouvelis in the Parliament in Athens, on Tuesday, June 19, 2012. Rival Greek party leaders launched a second day of talks on Tuesday in an attempt to quickly form a pro-bailout coalition government, after the debt-crippled country’s second inconclusive election in six weeks. Antonis Samaras’ New Democracy party came first in Sunday’s vote, winning 129 of Parliament’s 300 seats — not enough for him to govern alone. He is seeking an alliance with the third-placed Socialist PASOK and the smaller Democratic Left party. (AP Photo/Kostas Tsironis)

ATHENS, Greece (AP) — A coalition government could be formed by mid-Wednesday in Greece, the head of the country’s socialist party said Tuesday, easing the nation from political limbo as it struggles to deal with a financial crisis that has affected Europe’s economy and markets around the world.

Evangelos Venizelos, whose PASOK party came third in Sunday’s elections, said the socialists “will support this government sincerely and will participate in it in the most beneficial way in order to make it effective and credible.”

Later, a senior PASOK deputy said the timetable had changed somewhat, since talks between the socialists and the conservative New Democracy party had adjourned for the night and would resume at 1 p.m. local (1000 GMT, 0600 EST) Wednesday.

“We are trying to agree on the different points and we will inform the heads of the parties tonight and tomorrow we will resume discussions at 1 Login to read more